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Ether may be looking for strong price gains, according to an analyst. & Nbsp; Credit: Getty Royalty Free
Ether, the digital token that powers the Ethereum intelligent contract platform, will experience a "monumental" breakout as soon as smart contracts & nbsp; can & nbsp; accept external data, the analyst expected & nbsp; Ian McLeod.
"WAnd he expects Ethereum to reach $ 500 by the end of 2018, "stated & nbsp;McLeod, an investor and digital currency trader. Such a rally would require that digital currency increase by over 100% from current price levels, second CoinMarketCap . Data & nbsp;
Oracles, which help smart contracts gather information from the outside or "real" world, will help drive these price increases by strengthening the adoption of Ethereum, he said.
However, not everyone is on agreement McLeod, because market observers have offered conflicting views on its forecasts.
[Ed. note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.]
Bullish moment
Some market observers have focused on the recent rise in the digital currency market.
"The entire cryptography market has shown slow but steady gains lately," said Mati & nbsp;Greenspan, & nbsp;senior market analyst for social trading platform & nbsp;eToro. & Nbsp;
"I could easily see this development in a full rally towards the end of the year."
Joshua Frank, co-founder of the cryptanalysis analysis platform & nbsp;TheTIE.io, & nbsp; he also offered an optimistic point of view. & nbsp;
He emphasized that while the sentiment surrounding the ether was negative for much of the first half of 2018, the digital token started "gaining significant momentum" "beginning at the end of June."
Then, in September, trade volume "increased significantly," said Frank.
"The combination of positive sentiment and increased volume pushed the price of Ethereum upward in October and November, and if these conditions remain unchanged we expect further price growth," he said.
Potential adverse winds
Any potential rally in the prices of ether could meet significant resistance if companies with significant holdings of digital tokens start selling them, a well-known cryptocurrency analyst Garrett Keirns.
"Before we begin to romanticize the notion of a renewed upward rush of ETH, we still have to remember the amount of ETH held by many popular ICOs in their respective treasuries."
"There there are still significant amounts of Eth that could be sold to sabotage a potential rally, "noted Keirns, & nbsp;citing figures from the blockchain analysis platform & nbsp;Dapp Capitulation. & Nbsp;
While the oracles could serve as a catalyst and help strengthen sentiment in the general community of Ethereum, "there should be a use case, "he stressed. & nbsp;
Frank also addressed this particular topic, framing it through the lens of social media activity.
"Oracles could be a potential driver for a further upward price movement for Ethereum, but it's not a common topic that has been discussed on Twitter so far."
"It will be interesting to see if the conversations around the blockchain and more specifically at the oracles of Ethereum begin to increase and which, if any, will affect the movement of future prices."
Disclosure: I own some bitcoins, bitcoins and & nbsp; ether. & Nbsp;
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The ether may be looking for strong price gains, according to one analyst. Credit: Getty
Ether, the digital token that powers the Ethereum intelligent contract platform, will experience a "monumental" breakout as soon as smart contracts can accept external data, analyst Ian McLeod predicts.
"WAnd we can expect Ethereum to reach $ 500 by the end of 2018, "he said McLeod, an investor and digital currency trader. Such a rally would require that digital currency increase by more than 100% from current price levels, according to CoinMarketCap data.
Oracles, which help smart contracts gather information from outside or from the "real" world, will help promote these price increases by strengthening the adoption of Ethereum, he said.
However, not everyone is on agreement McLeodbecause the market observers offered conflicting opinions about his predictions.
[Ed. note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.]
Bullish moment
Some market observers have focused on the recent rise in the digital currency market.
"The entire cryptography market has shown slow but steady progress lately," said Mati Greenspan, senior market analyst for social trading platform eToro.
"I could easily see this development in a full rally towards the end of the year."
Joshua Frank, co-founder of the cryptocurrency analysis platform TheTIE.io, He also offered an optimistic point of view.
He emphasized that while the sentiment surrounding the ether was negative for much of the first half of 2018, the digital token began to "gain significant momentum" "from the end of June".
Then, in September, trading volume "increased significantly," Frank said.
"The combination of positive sentiment and increased volume pushed the price of Ethereum in October and November, and if these conditions remain unchanged we expect further price growth," he said.
Potential adverse winds
Any potential upside in ether prices could meet significant resistance if companies with significant holdings of digital tokens start selling them, noted cryptocurrency analyst Garrett Keirns.
"Before we begin to romanticize the notion of a renewed upward rush of ETH, we still have to remember the amount of ETH held by many popular ICOs in their respective treasuries."
"There there are still significant quantities of Eth that could be sold to tamper with a potential rally, "noted Keirns, quoting the figures from the blockchain analysis platform Dapp Capitulation.
While the oracles could serve as a catalyst and help strengthen sentiment in the general community of Ethereum, "there should be a use case, "he stressed.
Frank also assessed this particular topic, framing it through the goal of social media activity.
"Oracles could be a potential driver for a further upward price movement for Ethereum, but it's not a common topic that has been discussed on Twitter so far."
"It will be interesting to see if the conversations around the blockchain and more specifically at the oracles of Ethereum start to increase and which, if any, will affect the movement of future prices".
Disclosure: I own some bitcoins, bitcoin money and ether.
